HudBay Minerals Inc. (HBM) Stock Price Up 5.6%
Shares of HudBay Minerals Inc. (NYSE:HBM) rose 5.6% during mid-day trading on Monday . The company traded as high as $4.75 and last traded at $4.73, with a volume of 124,838 shares. The stock had previously closed at $4.48.
HBM has been the subject of a number of recent research reports. Paradigm Capital reaffirmed a “buy” rating and issued a $9.00 target price (up from $7.50) on shares of HudBay Minerals in a research note on Thursday, May 5th. Canaccord Genuity reissued a “buy” rating and set a $7.00 price objective (down from $7.50) on shares of HudBay Minerals in a research report on Monday, May 2nd. Zacks Investment Research downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. TD Securities reissued a “hold” rating and set a $6.50 price objective (up from $5.75) on shares of HudBay Minerals in a research report on Monday, May 2nd. Finally, BMO Capital Markets downgraded HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $7.13.
The stock’s 50-day moving average is $4.95 and its 200 day moving average is $3.84. The company’s market capitalization is $1.12 billion.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm earned $247 million during the quarter, compared to analyst estimates of $249.18 million. The firm’s quarterly revenue was up 63.7% on a year-over-year basis. On average, equities analysts expect that HudBay Minerals Inc. will post $0.06 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a $0.0076 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a dividend yield of 0.3%. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01.
An institutional investor recently raised its position in HudBay Minerals stock. Bank of Montreal Can raised its stake in HudBay Minerals Inc. (NYSE:HBM) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 431,266 shares of the mining company’s stock after buying an additional 112,899 shares during the period. Bank of Montreal Can owned approximately 0.18% of HudBay Minerals worth $1,647,000 at the end of the most recent reporting period.
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.